Gurugram, Nov 2024: In a significant development for distribution in India’s FMCG sector, Badho – the B2B marketplace for channel distribution has crossed ₹1000 Crore in Gross Merchandise Value (GMV) with current ~₹100+ crore monthly GTV and with 22% user growth every month.

Founded in 2022 by IIT and ISB alumni, Badho’s HQ is based in Gurugram and the marketplace connects retailers with local distributors, enabling them to place orders without payment constraints and set business terms for payment, delivery, and returns on their terms. This flexibility allows brands to maintain sales momentum, even in regions where their field sales teams might not be active, while also generating leads for distributors to expand their networks.

The Badho App has seen rapid adoption across India’s Hindi Belt, with over 5 lakh retailers and 7,000 distributors now trading secondary orders of more than 1000+ Brands through its marketplace. Market observers attribute this as a sign of growing digitization in traditional Kirana Markets, which still account for over 73% of India’s retail distribution.

Rishi Singhal, CEO of Badho, sees this as just the beginning. “The real opportunity lies in making traditional channel distribution more efficient, not replacing it,” he told reporters. Industry veterans agree, pointing to the vast untapped potential in India’s 13 million+ kirana store network.

The opportunity is particularly notable for emerging brands. For example, Shark Tank India participant Zoff Foods leveraged Badho to establish its offline presence and connected with 6,000+ retailers and generated 250+ distributor leads. They scaled to an impressive ₹13-₹15 Lakhs monthly order volume within months of partnering up with Badho. Also, such brands report an increase in average order values and higher participation in trade schemes, indicating improved engagement with retailers.

The development comes as India’s FMCG sector shows strong growth potential, with increasing consumption in tier 2-3 cities driving market expansion. According to Invest India by GOI, the Indian retail market is estimated to reach $2 Tn by 2032, driven by socio-demographic and economic factors such as urbanization, income growth and rise in nuclear families

“What’s noteworthy is the platform’s approach to digitization,” says Saurabh Shivhare, MD & CEO at Kapila Krishi Udyog Ltd. “Unlike earlier attempts that tried to bypass traditional distribution networks, this model enhances existing distribution, making it more palatable for the industry.”

Gyanendra Bharti, Co-founder of Badho, also emphasizes the platform’s role in preserving traditional business relationships: “By digitizing order processes while maintaining existing distributor-retailer relationships, we’re helping the industry evolve naturally.”

The development also signals growing investor interest in B2B retail tech. While Badho has been bootstrapped so far, industry sources suggest strong investor interest. Also, the platform’s ability to reduce market entry costs to under ₹50,000 has made it particularly attractive for brands looking to expand in the Hindi Belt. This cost efficiency, combined with rapid retailer connectivity, addresses a crucial gap in traditional channel distribution models.

For more information about how Badho is transforming channel distribution while preserving traditional networks, visit www.badho.in.

About Badho:

Badho is India’s leading B2B marketplace for channel distribution, optimizing costs and efficiency for FMCG brands while enhancing traditional distribution networks through innovative technology. The platform connects 5 lakhs retailers with 7,000+ distributors across the Hindi Belt, processing orders worth ₹1000+ crore GMV.

Fruit Formulations Private Limited Set to Revolutionize India’s Fruit Processing Industry

New Delhi, India – In a transformative move set to reshape the fruit processing landscape across the Indian subcontinent, Nikhil Kapoor, former Head of Sales at AGRANA Fruit India, has successfully completed the 100% acquisition of AGRANA Fruit India Private Limited. This strategic Management Buyout (MBO), backed by significant financial support from Danish Equbal, has led to the rebranding and formation of Fruit Formulations Private Limited (formerly known as AGRANA Fruit India Private Limited). The new entity is set to become a market leader in the fruit-based products sector, driven by innovation, quality, and strategic expansion.

Nikhil Kapoor: A Leader with Vision and Proven Success

With over 20 years of experience in the food, ingredients and fruit processing industries, Nikhil Kapoor has a strong background in business development, sales strategy, key account management, and customer relationship building. His career includes leadership roles at companies such as Cargill Foods and Givaudan Flavours, where he consistently drove business growth and expanded market share.

A key entrepreneurial achievement for Kapoor was founding Blue Ingredients Private Limited, which he successfully led from 2018 to 2021. Although Blue Ingredients is no longer operational, the experience of building and scaling a company has shaped Kapoor’s leadership approach and strategic thinking.

At AGRANA Fruit India, Kapoor excelled in key account management, particularly with large dairy clients, driving new product development and customer service improvements. His leadership resulted in several breakthrough solutions and a strengthened relationship with key accounts, significantly enhancing delivery efficiencies.

Kapoor also led the launch of innovative products for the Bakery and HoReCa sectors, including Fruit Crushes, Fillings, and Syrups. These innovations helped position AGRANA as a leader in India in specialized fruit-based solutions. Additionally, Kapoor spearheaded the company’s geographic expansion into North India, South India, and Nepal, contributing to significant business growth.

As the CEO of Fruit Formulations Private Limited, Kapoor is focused on taking the company to new heights. Commenting on the acquisition, he said:

“This 100% acquisition is not just about ownership—it’s about building a platform for innovation and redefining the fruit processing industry. Our goal is to set new standards for quality and customization and become the preferred partner for our clients. Through market expansion and continuous innovation, we aim to reshape the industry and create lasting impact.”

Danish Equbal: A Strategic Investor with a Vision for Growth

The success of this acquisition was made possible by the strategic financial backing of Danish Equbal, a seasoned investor with a strong record of driving growth in various industries. Danish is also the Founder and Director of Brickfolio Pvt. Ltd., a prominent real estate and investment firm based in Pune. Under his leadership, Brickfolio has transformed property investment through technology, market insights, and client- centric solutions.

Danish’s decision to invest in Fruit Formulations Private Limited reflects his confidence in the company’s potential to become a leader in the fruit processing sector. His investment will help the company scale operations, explore new growth opportunities, and drive product innovation.

Commenting on the venture, Danish Equbal said:

“Nikhil Kapoor is a proven leader with an exceptional track record. His vision for Fruit Formulations aligns perfectly with my investment philosophy, which focuses on supporting high-potential businesses. Together, we are laying the foundation for long-term success.”

A Strategic Focus on Customisation, Innovation, and Strategic Growth

As Fruit Formulations Private Limited embarks on its growth journey, the company will leverage Kapoor’s expertise in product innovation, market expansion, and customer service. With consumer demand increasingly shifting toward natural, health-conscious, and customized products, the company is well-positioned to capitalize on these trends.

Building on the momentum from AGRANA, Kapoor plans to diversify the product portfolio with clean-label ingredients and customized formulations for both B2B and B2C markets. The company will also prioritize key sectors, such as Bakery, HoReCa, and dairy and ice cream clients, while deepening partnerships and delivering value-added solutions to the food industry.

Geographic expansion across India and South Asia will be central to the company’s growth strategy, focusing on new markets and strengthening its presence in established regions. Customization will remain at the heart of operations, aligning with global trends toward personalization, convenience, and health-conscious consumption.

Kapoor added:

“Our mission is to stay ahead of market trends by delivering innovative, customized solutions that meet the evolving needs of our customers. With Danish’s support, we are poised for rapid growth while maintaining our focus on quality and sustainability.”

A New Chapter for India’s Fruit Processing Industry

The formation of Fruit Formulations Private Limited marks the beginning of a new era of growth, innovation, and leadership in India’s fruit processing industry. With Nikhil Kapoor’s extensive experience and Danish Equbal’s strategic and financial backing, the company is set to push the boundaries of innovation and expand its footprint across the Indian subcontinent market.

As CEO, Kapoor will lead Fruit Formulations Private Limited toward becoming a driving force in the transformation of the industry—centred on quality-driven innovation, tailored solutions, and ambitious market expansion.

About Fruit Formulations Private Limited

Fruit Formulations Private Limited, founded following the 100% acquisition of AGRANA Fruit India Private Limited, specializes in developing innovative and high-quality fruit-based solutions for industries including dairy, ice-cream, bakery, and foodservice. With a focus on customization, innovation, and strategic market growth, the company is positioned to lead the fruit processing sector across the Indian subcontinent and beyond. Backed by strategic investor Danish Equbal, the company is committed to delivering the next generation of fruit-based products through quality-driven innovation and sustainable practices.

The Japan India Industry Promotion Association (JIIPA, Minato-ku, Tokyo, Chairman: Prashant Godgate) and INFOEYE (Chiyoda-ku, Tokyo, CEO: Takayuki Sedodoi) have formed a partnership to further promote business between Japan and India. This partnership aims to strengthen business support systems and streamline exhibition operations through the provision of various solutions and online services.

Overview

As part of this partnership, the initial focus will be on providing solutions for the 15th India Trend Fair Tokyo 2025, which will be held in January 2025. This exhibition, organized by JIIPA, will utilize INFOEYEʼs technology to enhance interaction between exhibitors and visitors.

Additionally, INFOEYE will provide operational support for other exhibitions and events through the introduction of Kirikom Plusʼs exhibition functions. These functions will improve efficiency and facilitate seamless information sharing between exhibitors. Visitors will also be able to use their smartphones to select products, access detailed product information, and create pick-up lists, ensuring a smooth and convenient experience across languages.

All services under this partnership, including exhibition solutions and members-only websites, will support Japanese, English, and Hindi, creating an accessible environment for exhibitors and visitors alike.

Unlocking New Business Opportunities through Collaboration

This partnership is expected to significantly enhance the efficiency of exhibitions and events involving companies from both Japan and India. With the introduction of Kirikom Plusʼs exhibition functions, exhibitors will be able to track visitorsʼ product picks and other activities in real time, reducing operational burdens. This will allow exhibitors to respond promptly to visitor interests and needs, maximizing opportunities for business negotiations. Additionally, the creation of a members-only website will facilitate networking and information sharing, fostering long-term collaboration.

The partnership also opens doors for expanding these solutions to other exhibitions and events, accelerating efforts to promote business between Japan and India.

References

Japan India Industry Promotion Association (JIIPA)

JIIPA is an NPO based in Tokyo, promoting economic exchange between Japan and India. It collaborates closely with embassies, government agencies, industry organizations, chambers of commerce, and non-profit organizations to maximize business opportunities between the two countries.

• Location: Minato-ku, Tokyo
• Chairman: Prashant Godgate
• Official Website: https://npo-jiipa.org/

INFOEYE Co., Ltd.

Since its founding in 2002, INFOEYE has been providing solutions for the textile industry and image clipping services to support businesses in both Japan and India. Its expertise in apparel-related solutions and image clipping services has been widely adopted, helping facilitate smooth business operations between the two countries.

• Location: Chiyoda-ku, Tokyo
• CEO: Takayuki Sedodoi
• Official Website: https://infoeye.com/

Contact Information for this Partnership

INFOEYE

Contact Form: https://infoeye.com/contact

JIIPA

Contact Form: https://npo-jiipa.org/contact-us

A new wind of business is blowing between Japan and India̶look forward to the future created by the collaboration between JIIPA and INFOEYE.

*1 Kirikom Plus is available to start using for free.